Brandywine Global Investment Management LLC Raises Stock Position in Affiliated Managers Group, Inc. $AMG

Key Points

• Brandywine Global Investment Management LLC increased its stake in Affiliated Managers Group by 55.3%, owning 76,293 shares valued at approximately $12.8 million.
• Multiple institutional investors, including Millennium Management and Bank of America, significantly boosted their shares in the company, with increases ranging from 119.2% to 541.7%.
• Wall Street analysts have rated Affiliated Managers Group with a consensus of "Moderate Buy" and a target price of $215.20, with various firms recently upgrading their ratings.

Brandywine Global Investment Management LLC lifted its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 55.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 76,293 shares of the asset manager's stock after buying an additional 27,165 shares during the period. Brandywine Global Investment Management LLC owned about 0.27% of Affiliated Managers Group worth $12,820,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Millennium Management LLC grew its holdings in Affiliated Managers Group by 119.2% during the 4th quarter. Millennium Management LLC now owns 305,497 shares of the asset manager's stock worth $56,493,000 after acquiring an additional 166,144 shares during the period. Bank of America Corp DE increased its position in shares of Affiliated Managers Group by 541.7% during the fourth quarter. Bank of America Corp DE now owns 186,030 shares of the asset manager's stock worth $34,401,000 after acquiring an additional 157,042 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Affiliated Managers Group by 186.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 227,296 shares of the asset manager's stock valued at $42,033,000 after buying an additional 148,079 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Affiliated Managers Group by 14,091.8% during the 1st quarter. GAMMA Investing LLC now owns 126,023 shares of the asset manager's stock worth $21,176,000 after buying an additional 125,135 shares in the last quarter. Finally, Nuveen LLC bought a new stake in Affiliated Managers Group during the first quarter worth $16,060,000. 95.30% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Barrington Research restated an "outperform" rating and issued a $200.00 target price on shares of Affiliated Managers Group in a research note on Tuesday, July 29th. Wall Street Zen downgraded shares of Affiliated Managers Group from a "buy" rating to a "hold" rating in a report on Friday, June 27th. TD Cowen upgraded shares of Affiliated Managers Group from a "hold" rating to a "buy" rating and upped their price target for the company from $214.00 to $255.00 in a research note on Monday, August 4th. Cowen upgraded shares of Affiliated Managers Group from a "hold" rating to a "buy" rating in a research note on Monday, August 4th. Finally, The Goldman Sachs Group raised Affiliated Managers Group from a "neutral" rating to a "buy" rating and raised their price target for the stock from $197.00 to $218.00 in a report on Friday, June 27th. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Affiliated Managers Group has a consensus rating of "Moderate Buy" and a consensus price target of $215.20.

Affiliated Managers Group Stock Up 3.2%

AMG stock traded up $7.01 during trading on Friday, reaching $225.36. The company's stock had a trading volume of 84,302 shares, compared to its average volume of 224,948. The company's fifty day moving average is $204.69 and its 200-day moving average is $181.39. The company has a market capitalization of $6.40 billion, a P/E ratio of 16.45, a price-to-earnings-growth ratio of 0.60 and a beta of 1.14. Affiliated Managers Group, Inc. has a 1 year low of $139.22 and a 1 year high of $225.73.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last released its earnings results on Thursday, July 31st. The asset manager reported $5.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.26 by $0.13. The firm had revenue of $493.20 million during the quarter, compared to analysts' expectations of $506.46 million. Affiliated Managers Group had a return on equity of 16.11% and a net margin of 21.79%.The firm's revenue was down 1.4% on a year-over-year basis. During the same quarter last year, the business posted $4.67 earnings per share. Analysts anticipate that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current year.

Affiliated Managers Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 25th. Stockholders of record on Monday, August 11th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. The ex-dividend date of this dividend is Monday, August 11th. Affiliated Managers Group's payout ratio is 0.29%.

Affiliated Managers Group Profile

Affiliated Managers Group, Inc, through its affiliates, operates as an investment management company providing investment management services to mutual funds, institutional clients,retails and high net worth individuals in the United States. It provides advisory or sub-advisory services to mutual funds.